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Colony Financial, Inc. Prices Public Offering Of Common Stock

Colony Financial, Inc. (the "Company") (NYSE: CLNY) today announced that it has priced its public offering of 7,000,000 shares of common stock. The Company also granted to the underwriter an option to purchase up to an additional 1,050,000 shares. The offering will generate gross proceeds (before the underwriter’s compensation and estimated expenses) of approximately $131.3 million, or approximately $150.9 million if the underwriter exercises its option to purchase additional shares in full. The offering is subject to customary closing conditions and is expected to close on September 12, 2012. On September 6, 2012, the last reported sales price of the Company’s common stock on the New York Stock Exchange under the symbol “CLNY” was $19.35 per share.

The Company intends to use the net proceeds from the offering to repay amounts outstanding under the Company’s revolving credit facility and to fund additional investments, for working capital and for general corporate purposes.

BofA Merrill Lynch is acting as the sole book-running manager for the offering, and may offer the shares at prevailing market prices or otherwise from time to time through the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise.

The offering of the shares will be made under the Company’s shelf registration statement, which was filed with and declared effective by the Securities and Exchange Commission. The offering will be made only by means of a prospectus supplement and prospectus, which has been filed with the Securities and Exchange Commission. A copy of the prospectus supplement and prospectus related to the offering can be obtained by contacting BofA Merrill Lynch, Attention: Prospectus Department, 222 Broadway, 7 th Floor, New York, New York 10038 or by email at

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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